Can you claim a foster child as a dependent on taxes??

Рет қаралды 1,077

Күн бұрын

DISCLAIMER This is not professional financial or legal advice - consult with accountant if needed
www.irs.gov/pub/irs-pdf/p501.pdf
Here is an IRS form that states on bottom left of page 13: Adopted child or foster child.
IIndiana policy on SSN's: www.in.gov/dcs/files/2.07-Con...
**updated policy for Indiana ** no need to ask FCM for SSNs, just fill out this form : forms.in.gov/Download.aspx?id...
There is definitely a NEED in every state for foster parents. I hope this encourages you to take the first step to get licensed yourself or help a foster parent local to you :)
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#fostercare #fostercaretaxes #taxes

Пікірлер: 8

@ehhhh5137 Ай бұрын

You are so correct I am 19 but once I get a job I want to foster 2 kids you are so correct about them claiming them as a dependent!

@mhewner 6 ай бұрын

One thing you didn't mention about foster parent taxes that I found a little surprising: foster parent stipends are not taxable income

@HappyHoppe 6 ай бұрын

Yes, true, so any per diem from kids in care wouldn’t count towards taxable income.

@chasingrainbowschannel 6 ай бұрын

What a pain! I agree with you that you should get their social security numbers right away, regardless of taxes. Every dr office asks things like that so that law should be changed!

@HappyHoppe 6 ай бұрын

I just found out that in July, Indiana now has a form foster parents can fill out to help get SSNs for tax purposes 👏 so it has streamlined the process! (Form linked in description!) My husband and I for 2 years faced a lot of hurdles with this and talked with DCS & our congress people about it, so maybe that helped change the process 🙏

@kelil1750 4 ай бұрын

Thank you! I am a foster parent in Indiana also and needed this information!

@mistybethune9116 6 ай бұрын

my mom once when i was in my early 20s claimed me when she wasnt supposed to i had to paper file and it took me i think til july to get my taxes back

@saraschneider6781 6 ай бұрын

The question is a lot less wordy than it should be. It's not uncommon in divorce situations for the minority custody parent to be able to claim a child depending on the financial circumstances, at least in Wisconsin.